GAIL to invest Rs60,000 cr for setting up a 1,500-KTA ethane cracker in MP
17 Jun 2024
GAIL (India) Limited plans to invest around Rs60,000 crore to set up a 1,500 KTA ethane cracker, perhaps the largest in India, at Ashta in Sehore district of Madhya Pradesh.
The largest ethane cracker to be set up in the country, the project will produce a range of petrochemical products such as LLDPE, HDPE, MEG and propylene.
In a regulatory filing with the stock exchanges, the public sector undertaking said it has requested the Madhya Pradesh government for facilitating the smooth running of the project work.
Gail will soon seek investment approval for the project from its board of directors.
GAIL said the MP Industrial Development Corporation Limited wield provide around 800 acres of land for which the state government has already initiated the process.
Gail expects to carry out the ground-breaking ceremony for the project in February 2025 and commercial production is expected to start in the financial year 2030-31. The project will provide employment to 15,000 people during the construction stage and about 5,600 people will get permanent employment on the project starting operation.
Besides, the project will also be building a 70-hectare township.